I know it doesn't look perfect, but it is something.
This is a Wyckoff analysis I tried. According to what I have here (1920s books and 1994 articles) the market is currently in a intermediate accumulation phase.
Here 2 scenarios are possible. The first one takes us down to the 0.79USD level before the upward trend continues. The second one will go directly to the last high point, and after a small drop, will move up to about 1.07USD in the next days.
I believe that an accumulation phase would make more than sense. Ripple has had good news in recent weeks, banks in Japan and the US are in the starting blocks, which means that more customers (willing buyers) and therefore more volatility should come onto the market in the coming weeks. This is where the supply is prepared for the imminent demand.
Hope I can contribute something here or inspire someone to a trading idea.
This is not a trading recommendation. You trade at your own risk.
Good luck.
This is a Wyckoff analysis I tried. According to what I have here (1920s books and 1994 articles) the market is currently in a intermediate accumulation phase.
Here 2 scenarios are possible. The first one takes us down to the 0.79USD level before the upward trend continues. The second one will go directly to the last high point, and after a small drop, will move up to about 1.07USD in the next days.
I believe that an accumulation phase would make more than sense. Ripple has had good news in recent weeks, banks in Japan and the US are in the starting blocks, which means that more customers (willing buyers) and therefore more volatility should come onto the market in the coming weeks. This is where the supply is prepared for the imminent demand.
Hope I can contribute something here or inspire someone to a trading idea.
This is not a trading recommendation. You trade at your own risk.
Good luck.
Trade active:
The forecast didn't go exactly according to plan, but who cares? I think this will be the next movements of xrpusd. Hopefully );)
Trade active
Trade closed: stop reached